I did another quick and simplified analysis.
From my perspective, tax reform is very similar to AMT with different tax bracket.
In terms of applicable income after deduction, only difference is $10,000 deduction on SALT in case of tax_reform.
I assumed up to $1,000,000 mortgage interest deduction would stay because it would stay for current home owners at least.
Anyway, here’s my new table.
I used the same table in my previous posting to calculate tax after tax reform.
I used income for AMT calc and “income-10,000” for tax after tax reform.
Income in green color range will pay less after tax reform no matter what because AMT means really “minimum tax you paid before reform”. Correct me if I miss anything.
Income in orange color range who currently pay AMT will pay more tax indicated in the table.
Income in orange color range who currently done’t pay AMT, they may or may not pay more after reform.
However, after $700,000, usually, AMT phases out under current tax law.
Thus, increased tax for those group will not be as high as this table indicates.